US Dollar soars to new high against Pakistani rupee in open market

The US dollar soared to an all-time high on the interbank market against the Pakistani rupee.

On the second day of the trading week, the US dollar traded up by 80 paise at Rs 168.90 on the interbank market and at Rs 169.70 on the open market. Earlier, on August 26 last year, the dollar had touched Rs 168.43 in the interbank market.

It may be recalled that in four months, the dollar has appreciated by Rs 16.42 paise, while last week the dollar surged by 80 paise in the open market, after which the dollar has risen from Rs 167.09 to Rs 168.70.

The government is claiming to get the economy out of trouble, but in the meantime, the country’s currency is declining, the US dollar has been rising sharply against the rupee over the past few days.